Founded in 1996 in Bourton-on-the-Water, The Cotswold Company is a digitally led furniture and homeware brand which operates 15 stores and four outlets alongside its ecommerce channel. With new openings coming thick and fast – in Kingston upon Thames, Redbrick, and a Telford outlet this year alone – Furniture News asked CEO Ralph Tucker for the lowdown …
Your store footprint is growing fast! What are your short- and long-term targets for the portfolio?
I would say we’re growing steadily and in line with our strategy, which is focused on delivering profitable growth. With each new opening, we take a data-driven approach to site selection, spend time carefully designing the interior, and then ensure it resonates with customers and is profitable. We have ambitious plans to continue our UK expansion and continue to look at opportunities where we feel we can connect with more customers.
Does the current economic climate lend itself to expansion, or do you feel you’re going against the grain?
There’s no doubt the current climate is tough, but industry challenges aren’t new. I joined The Cotswold Company as CEO just before Covid, so the challenging trading environment for us actually feels relatively normal. But naturally, it has an effect on consumers. We recognise the pressures consumers are facing, which is why we remain focused on offering high-quality, made-to-last furniture at a fair price.
Ultimately, customers want value in any economy, and we believe that value comes through creating aspirational items that add character to the home and are designed to last.
How are you fuelling your growth?
We’re growing in a very controlled manner that aligns with our growth strategy, but much of the success is down to the team. We have an industry-leading team that really listen to our customers and work tirelessly to deliver a great product and a great service.
It is also about maintaining humility and being agile enough to admit when we don’t get it quite right, and resolve issues quickly.
What’s special about your stores?
I believe our stores bring together great service with knowledgeable, courteous colleagues and an incredible space to view amazing products as they might look in your home. I think that is something really great retailers can offer, and we try to match that with a relaxed environment and a little retail theatre to excite and engage.
Do you have a favourite of those established so far?
That’s like asking me who’s my favourite child! What I love most is that each one has a unique story, or role to play. For instance, in Knutsford, we converted a derelict bank and helped reinvigorate a charming and characterful building into a destination that adds value to the local high street. Meanwhile, in Chichester, we opened our first retail park store, where we effectively built a house within a shed. It was a different task to Knutsford, but both resulted in really fantastic spaces … although I couldn’t pick a favourite overall!
How broad is your current product offer? Any new highlights?
We try to cater for the whole of your home. This year, we’ve added curtains and bathroom selections, which have both got off to a flying start. This builds on our previous efforts to roll out and scale our upholstery offer, which creates more reasons for customers to shop with us. The same rule applies in each range – it’s about adding character to the home at great value.
Are there any gaps in your offer you’re looking to fill?
Always! We are constantly refining the proposition, but you’ll have to wait and see what’s coming. We’ve got some incredible new products touching down over the next 12 months that will make wonderful new additions to homes across the country. I couldn’t be prouder of our product team – they do a fantastic job and are constantly keeping us at the forefront of the industry.
What does a typical Cotswold Co customer look like?
There isn’t really one typical customer. If I had to distil it down, I would say that our customer is someone who values great, charming design, good service and exceptional quality, but wants that at a fair price.
Read the rest of the interview in July's issue.
